Step 8: Advantages
In this final strategic step, SBI will help you define the unique advantages your company has in the marketplace.
You aren’t certain what you do better than your competitors.
There are three sources of competitive advantage: price, product, and customer experience. If you haven’t picked one, your customers will certainly do it for you: price. If you haven’t optimized your cost structure for price, it will cost you revenue and margin. Have you proactively defined your competitive advantage and invested in achieving it? Or are you letting your customers pick price for you?
- Competitive advantage analysis
- Customer experience
- Differentiation analysis
- False differentiation
- Uneconomic differentiation
- Unsustainable differentiation